Gannett (GCI) announced Q3 results today along with details on revenue for September. Total operating revenues for the company were $1.81 billion in the third quarter compared to $1.88 billion in the third quarter of 2006. For the 2007 third quarter earnings per diluted share from continuing operations were $1.01 compared with $1.08 per share in the third quarter of 2006.
The stock reacted well, moving up 2.3% to $44.54, still near its 52-week low.
Buried in the announcements were the results for USA Today. At the big national newspaper, advertising revenues decreased 6.6 percent compared with the third quarter of 2006. Paid advertising pages totaled 803 compared with 929 in the same period a year ago. And, at USA TODAY, advertising revenues for September were down 7.0 percent on paid ad pages of 292 versus 358 last year.
The New York Times (NYT) is off 2.3% today and hit a 52-week low of $18.30.
A drop in ad revenue at a large national paper is not good news for the Times.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
